London at the fast end of technology growth

London at the fast end of technology growth

Consultant Deloitte announces results of annual survey of 50 fastest-growing IT firms

London has the highest concentration of the fastest-growing technology companies in the UK, according to new figures.

The average growth in turnover of the UK’s 50 fastest-growing technology companies is 2,451 per cent, says consultant Deloitte’s 2007 annual survey.

The spectacular growth achieved by the top 50 companies is driven by reliable distribution, cost reduction and digital search and security, said partner in Deloitte’s technology, media and telecommunications practice, Simon Kerton-Johnson.

“There is good representation from across all the regions, with London dominating overall with 32 per cent of companies in the Fast 50 coming from this area,” he said.

The winning entry to Deloitte’s Technology Fast 50 is ByBox, which has grown by 15,272 per cent, with revenues growing from £119,235 in 2002 to £18,328,767 in 2006.

The firm operates a network of secure mailboxes, which allow users to receive packages and mail without being present at the time of delivery.

The boxes are linked to an IP network, so automated alerts can be sent to customers via email and text when a delivery has been made.